The Coming Months Are Going To Be Bullish !
A year ago, I wrote an article describing why I was bullish about crypto in 2024, with many of those events impacting the price of Bitcoin. I’m talking about the greatest ETF launch in America with Bitcoin in January, propelling the king of crypto to a new all-time high. But many other huge news events are yet to happen.
Rewind Time
In my article, I mentioned that the halving would be a very important moment for Bitcoin in 2024, however, it seems that the price has not reacted much since the halving in April.
Looking back at previous halvings, we can note that the price does not react immediately but in the following months. However, it’s important to note that this halving was slightly different from the others.
The Bitcoin price reached an all-time high before the halving, whereas historically, it has always been after the halving.
This novelty is due to the huge and comprehensive hype around the Bitcoin ETFs that were validated in January.
Massive inflows drove the price of Bitcoin to an all-time high. It’s normal, after a situation like this, for the price to make a retracement, so it’s not surprising to me that the price of Bitcoin did not have the expected reaction three months after the halving.
But I think people underestimate the halving. I remember everyone talking about it before it happened, but now it’s nowhere to be found on social media.
For me, it’s clear that the effect of the halving, which is the reduction by half of the selling pressure from Bitcoin miners, will be visible when more investors and retail investors start investing in Bitcoin. The shock between supply and demand will happen, and it will be huge.
FED Pivot
In my article, I talked about the possibility of interest rates in the US being cut in 2024. Even though the possibility of multiple rate cuts this year is probably unlikely, as predicted one year ago, it’s clear that one or two rate cuts will happen later this year.
This will mark the beginning of a friendlier environment for risk-on assets like crypto !
US Presidential Elections
This one is a bit trickier. A few days ago, I was sure that Trump was going to win, but with Kamala Harris as the replacement for Biden, it will certainly be tougher for Trump. The argument of old age now works against Trump. I believe that future debates will be important in determining a favorite. Furthermore, a survey conducted by Reuters and Ipsos shows Harris leading the race by a very thin margin.
But this could benefit the crypto community, with each nominee possibly proposing solutions or laws in favor of US crypto holders, which will play an important role. That’s why Trump was present at the Bitcoin conference, we will have to see Harris’s point of view on crypto.
And you, what makes you bullish for the coming months ?
As always thank you for reading !
My favorite Crypto Faucet : Cointiply (referral)
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Disclaimer : This is not a financial advice, you need to do your own research !
